Homebuyer Tax Credit Passes House & Senate
Posted by leowalker on 5
Here it is, then. It’s all we’d said it would be. Here are the details, arranged in a nice little side by side comparison for your viewing pleasure. All that now remains is the Presidential signature.
Realtors are really excited about this because it keeps the gravy train rolling until April. Me, I’ve got mixed feelings. It is nice to have escrows closing every now and then, paying the bills is a good thing. It would have been better to allow the market to reach the bottom which it won’ t do for a while given these temporary incentives. Jobs. It all comes down to jobs. Without jobs there won’t be money for people to pay their mortgages. Jobs, jobs, jobs.
Coming into the light « Arroyo Seco Real Estate said
[...] which would have been foreclosed and resold by now were it not for various extraneous incentives (here and here, for example) skewing the market. Mortgage lenders have been reluctant to foreclose on [...]